Looking for banks with good interest rates for minors in DC Metropolitan area?

Question

Hi, I'm 14 and looking for a good interest rate in a bank, preferably in fairfax county or DC Metropolitan area. I'm pretty sure I won't be able to meet any minimum balances, but anything higher then .125% interest per quarter is fine. Thanks.

Answer 1

Most of the major banks like Bank of America and Wells Fargo should have competitive rates in your area. The rates are likely to fluctuate depending on what the Federal Reserve does anyway so I would not be too concerned at the interest rate. If you go with a major bank that is FDIC insured and provides good service you should be fine. Keep saving - that's the most important thing!